Fero company is considered the acquisition of Sheridan. Incorporated to assess the amount might be willing to pay. Pharaoh makes the following computations and assumptions. Sheridan incorporated has Identifiable assets with the total value of 6 million 20000 dollars in liabilities of 3 million 716000 dollars. As the assets include office equipment with a fair value approximating book value buildings or the fair value 25% higher than book value and land with fair value. 50% higher than book value the main route. The remaining lives of the assets are deemed to be approximately. Equal to those used in Sheridan incorporated. Sheridan incorporated pre-tax incomes for the years 2020 through 2022, where $470400 $570500, and $370400. Respectively, pharaoh believes that an average of these earnings represented a fair estimate of annual earnings for the identified viable future. However, it may need to be considered adjustments for the following items included in pre-tax earnings. Assume the pharaoh feels that it must turn a 20% return on investment and that goodwill is determined by capitalizing excess earnings based on these assumptions calculated reasonable offering price for Sheridan incorporated indicate how much of the price consists of goodwill